Oil Search Valuation & Target Price, page-50

Only think that is keeping oil search depressed in PNLNG Expansion and Hope of a Major Capital Raising.
.... Although company says they will fund PNLNG expansion from cash flow, but fact is every company says same thing before doing Capital Raising.
... Remember Santos.. From No to Any Capital Raising Promise twice Capital Raising in less than few months(Hony plus Market Capital Raising, 1.82 Times dilution within few months)